Champio Study guides, Class notes & Summaries

Texas Principles 1 Exam Practice Questions And Answers - Champions School of Real Estate

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

Champions Real Estate Exam: Law of Agency | 286 Questions and Answers | Updated 2023-2024

Champions Real Estate Finance | 188 Questions and Answers 100% Correct

Texas Promulgated Contracts-CHAMPIONS STUDY WITH CORRECT SOLUTIONS The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - answerB A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilater...

Texas Promulgated Contracts-CHAMPIONS Exam 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

Promulgated Contract Forms - Champions School Of Real Estate Latest Test Mutual consent a "meeting of the minds" Unilateral Contract A contract in which only one party Is obligated to perform. one sided Consideration something given in exchange for a promise Option an agreement between a buyer and seller giving the buyer the right to purchase a property at a preset price for a given period of time Unenforceable Contract a contract that cannot be enforced due to some flaw or other issu...

Real Estate Finance I-CHAMPIONS| 60 questions and answers

What year was the National Truck Roadeo established by the American Trucking Association? - ANSWER-1937 How many months must a driver have driven and performed the duties of a truck driver in 12 months of employment to compete in the truck driving championship? - ANSWER-11 During a calendar year, how many classes of competition can a driver compete in? - ANSWER-1 How many state competitions can a driver compete in during a calendar year? - ANSWER-1 How many months must a driver be co...